Show I Mining Financial and Commercial News stocks REACH NE YEAR Trading Active With Turn Turn- over ov of Shares Steels Rails RaIs Lao Lag NEW w YORK Feb 20 O OP P-BULS P Bulk pushed the share maikeL further iut wt j new flew high ground for the year yearda E 1 day da absorbing weck-enci weck eck liquidation with scarcely a. a falter and the list a boost in tl th last few minutes was active tie days clays turnover turnover turn turn- over of shirts wa as the large est et for an rig market in more nore thirn a week Operations for the advance ad vance were c In the mothr motors mo mo- tors and Issues in the late and even some of ol the lo g sluggish oils turned upward was as rather uneven vever ho for U. U S. S Steel one of the leaders failed to participate pate and closed a fraction lower The rails continued to lag SOME SHARES SUARES Such volatile shares as cc Allied Chemical and shot up about 10 points and closed within a point a or twO Of the top American Telephone TelePhone Tele Tele- phone and Nash lash were lAte Lite features selling uj un about 3 Radio rose 2 to a anew new flew high for 1931 Byers sold rold up 5 points but lost part of Its rise later Hudson rallied raffled nearly 2 points after the expected dividend r reduction In Inthe th the oils Standard of New Jersey and California rose 1 4 3 and 1 1 Other shares gaining 2 to 3 included American Amen Ameri can Can Du Pont Electric Pacific Lighting International Inter Inter- national Telephone anti and house As In nil all advancing markets the post past fortnight has witnessed an ac active ac- ac th tive e resumption of activity by merger mercer rumor mongers The vigorous bid bid- ding up of has lias been accompanied nied by brokerage gossip that it be taken over o by U. U S. S Steel but the rumor wa was characterized as bs baseless by U. U S. S Steel official Fri day Strength of Radio brought out fresh discussion of the prospect of acquisition of Columbia phone by Radios Radio's British subsidiary Kis ILs Masters Master's Voice Gramophone Such a combination has been considered con con- conA at various times Umes for years and while official comment now is Wall street believes have been resumed REVIEWS The end w business reviews ics were verc so ie cheerful than they been of late The Annalist rested as at significant the Uie clearly elearly upturn in In the volume of building contracts Jet as reported for forthe the first th-st 11 business days of the month After fter a rather disappointing disappoint lug ing January building has sho shown n a better than normal increase in iti the early days of February Tile The sustained sus sus- improvement In the cotton Industry which led the recovery af after at ter tr the 1921 1021 depression lon also alzo was in indicated In- In as a possible straw in the wind Most Moss encouraging of all perhaps per per- haps is the sudden upswing in motor production Ford now has placed its plants assembling cars for Michigan on a a. five day week after working on time half since th the turn of the year LOANS INCREASE The gain of In weekly brokers brokers' loans the second successive moderate upturn was encouraging to bulls a as indicating increasing public response to the their ir demonstrations Time The recent gains in loans have been to too moderate to suggest any Important t taut tant weakening of tile the market ture turc In fact the technical position lias Imas probably been cd by the building up of a new nta short interest at recent high levels Call money was again available at 1 per cent in the thc outside market |